It isn't really a question of "standing" with FINRA. If the company wants to do corporate actions, it needs approval from FINRA. Right now, that doesn't seem to be on the table.
In addition to the problem of the old TJM stock, the company's once-a-shell status may be an issue for them.
Sure, there are things BLVD could do to try to address those problems. But it hasn't done any of them.
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